Thomson to buy Reuters for $17.23 bn

    

Reuters and Thomson have agreed on terms of the merger. Thomson will buy Reuters for USD 17.23 billion.

 

The UK news agency had confirmed that it was in takeover talks with Canadian data company Thomson about a possible bid worth 8.8 billion pounds (USD 17.5 billion).

Earlier, Canada based Thomson had unveiled plans to acquire the wire agency in a USD 17.5 billion deal, the success of which hinged on whether the two sides could convince a body set up to safeguard Reuters' editorial independence.

 

The deal will create the world's biggest financial news and data group. The takeover has the support of the Reuters founders share company, which has the power to block a change of ownership.

 

But it still needs regulatory clearance and shareholder approval. Reuters Chief Executive Tom Glocer, who will head the combined Thomson-Reuters Group, declined to predict how long the process would take.

Yatra, Hughes tie up for travel services

Online travel portal Yatra Online Pvt Ltd and broadband satellite network provider Hughes announced a tie-up on Wednesday that will enable the portal to offer its travel-related services to customers across the country through select HughesNet Fusion centres.

"Yatra will leverage HughesNet Fushion's existing infrastructure to create an offline model of booking and payment of travel services for its customers," said Mr Dhruv Shringi, Founder, Yatra Online.

He added that the portal can now tap into those sections of the population which do not have access to credit cards or are not familiar with Internet transactions, or are wary of using their credit cards for e-commerce transactions.

The broadband network provider will give Yatra.com an extended retail presence with an integrated offline cash acceptance model; in the first phase, customers will be able to avail the cash transaction services through 28 HughesNet Fushion centres across the country.

Other payment modes such as credit/debit cards will also be accepted. A special helpline has also been created for handling queries regarding customer bookings.

This tie-up will enable customers to book from over 1,500 hotels and resorts in India, and all domestic airlines with instant confirmation.

First retail outlet to open in Pune, in May: AV Birla Group

The AV Birla Group has forayed into the retail segment. The retail venture has been christened Aditya Birla Retail and its first outlet will open in Pune in May. The retail venture will have two formats - hypermarket and supermarket. The Group is not tying up with any joint venture partner for its retail venture.

The retail venture investment will amount to Rs 8,000-9,000 crore and will not be made via any listed AV Birla Group Company. The company is looking for acquisitions to add value and has acquired leading South-based super market chain Trinethra in January, but is not keen on tying up with any JV partner as of now. Its first retail outlet will be unveiled in Pune this month. However, the group has clarified that the Pyramid acquisition talks were only speculative.

Dell launching computer for Rs 10,000

Computer manufacturer Dell is in the process of launching low-cost personal computer at about $238 or Rs 10,000 across the world, including in India.

``We are testing the product. The computer would be customised according to the market and customer needs,'' said Mr Sameer Garde, General Manager-Sales, Dell India.

While speaking at the sidelines of a conference on Thursday, he said the computers would be launched after clearing all the hurdles and declined to give a time frame for the launch in India.

On Thursday, the company unveiled three new laptops for the Indian market — Latitude D630, D830 and D531.

The prices of the three computers range from Rs 52,000 to Rs 64,000.

The new products will have longer battery life, increased connectivity and performance, according to the company.

The company is also planning to launch D430 ultra-mobile notebook and Dell Precision M4300 computers in the coming weeks.

Ford gets ready to tap diesel mkt

Diesel seems to be the buzz word in the Indian compact car segment. Ford is now sharpening its weapon to take on the swift diesel and the to-be-launched Getz diesel, reports .

Ford's bet in the hatchback segment, Fusion, has not really paid off! Even after a facelift last year, it currrently sells only less than 250 units per month. And to improve that performance, Ford is now set to roll out a diesel Fusion.

Sources say, the new offering should be in by July. It will be powered by the Fiesta's frugal 1399 cc engine and is expected to be priced around Rs 6 lakh.
 
Ford could be trying to reduce the Fusion's length by 18 milimeters, so it comes within 4 meters and can avail lower excise duty. And that would make it a strong competitor to the swift diesel and the diesel Getz planned by Hyundai.

Ford's diesel offering in the midsize segment, the Fiesta diesel has been well received by customers. And it would hope to do the same with the Fusion diesel. Currently close to 20% of sales in the compact car segment comes from diesel cars. With the forthcoming additions from Ford and Hyundai, and also Maruti ramping up its diesel engine production, the compact car segment will get more torque for growth.